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VisitWhat will be the total value locked (TVL) on AbstractChain by June 30, 2025?
Less than $10 million • 25%
$10 million - $50 million • 25%
$50 million - $100 million • 25%
More than $100 million • 25%
TVL data from Igloo Inc or Cube Labs, verified by blockchain analytics platforms like DeFi Pulse or DappRadar
Igloo Inc Raises $11 Million to Develop Ethereum Layer 2 AbstractChain
Jul 23, 2024, 03:36 PM
Igloo Inc, the parent company of Pudgy Penguins, has successfully raised over $11 million in a funding round led by Peter Thiel's Founders Fund. The funds will be used to develop AbstractChain, a new Ethereum Layer 2 blockchain aimed at bringing the next generation of crypto users on-chain. Other contributors to the funding include Fenbushi Capital, 1kx Network, EVG, and Selini Capital. The new blockchain, Abstract, is designed for consumer crypto applications and will be overseen by Cube Labs, a newly established entity under Igloo Inc.
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